Research Analysts’ Weekly Ratings Changes for Equity Residential (EQR)

A number of research firms have changed their ratings and price targets for Equity Residential (NYSE: EQR):

• 9/24/2024 – Equity Residential was downgraded by analysts at Bank of America Co. from a “buy” rating to a “neutral” rating. They now have a $82.00 price target on the stock, up previously from $78.00.
• 9/16/2024 – Equity Residential had its price target raised by analysts at Scotiabank from $77.00 to $81.00. They now have a “sector perform” rating on the stock.
• 9/16/2024 – Equity Residential had its price target raised by analysts at JPMorgan Chase & Co. from $68.00 to $80.00. They now have a “neutral” rating on the stock.
• 9/16/2024 – Equity Residential had its price target raised by analysts at Evercore ISI from $75.00 to $76.00. They now have an “in-line” rating on the stock.
• 9/11/2024 – Equity Residential is now covered by analysts at BNP Paribas. They set an “outperform” rating and a $83.00 price target on the stock.
• 9/10/2024 – Equity Residential was upgraded by analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating. They now have a $83.00 price target on the stock, up previously from $62.00.
• 9/9/2024 – Equity Residential had its price target raised by analysts at Evercore ISI from $74.00 to $75.00. They now have an “in-line” rating on the stock.
• 9/4/2024 – Equity Residential is now covered by analysts at The Goldman Sachs Group, Inc.. They set a “neutral” rating and a $81.00 price target on the stock.
• 8/29/2024 – Equity Residential had its price target raised by analysts at Truist Financial Co. from $73.00 to $77.00. They now have a “buy” rating on the stock.
• 8/28/2024 – Equity Residential had its price target raised by analysts at Evercore ISI from $70.00 to $74.00. They now have an “in-line” rating on the stock.
• 8/26/2024 – Equity Residential had its price target raised by analysts at Scotiabank from $73.00 to $77.00. They now have a “sector perform” rating on the stock.
• 8/26/2024 – Equity Residential was downgraded by analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating. They now have a $77.00 price target on the stock, up previously from $69.00.
• 8/7/2024 – Equity Residential had its price target raised by analysts at Scotiabank from $72.00 to $73.00. They now have a “sector perform” rating on the stock.
• 8/5/2024 – Equity Residential had its price target raised by analysts at Wedbush from $68.00 to $75.00. They now have a “neutral” rating on the stock.

Equity Residential Stock Down 0.7 %

Shares of EQR traded down $0.52 during midday trading on Thursday, reaching $73.34. 1,211,062 shares of the stock were exchanged, compared to its average volume of 1,912,608. The company has a market capitalization of $27.84 billion, a P/E ratio of 30.43, a PEG ratio of 5.60 and a beta of 0.89. The company has a current ratio of 0.21, a quick ratio of 0.21 and a debt-to-equity ratio of 0.64. Equity Residential has a 52 week low of $52.57 and a 52 week high of $78.83. The company’s 50 day moving average is $73.51 and its two-hundred day moving average is $68.32.

Equity Residential (NYSE:EQR) last posted its quarterly earnings results on Monday, July 29th. The real estate investment trust reported $0.47 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.49). The business had revenue of $734.20 million during the quarter, compared to the consensus estimate of $735.26 million. Equity Residential had a net margin of 32.83% and a return on equity of 8.53%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. On average, sell-side analysts anticipate that Equity Residential will post 3.89 earnings per share for the current year.

Equity Residential Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, September 24th will be issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Tuesday, September 24th. Equity Residential’s dividend payout ratio is currently 112.03%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its position in Equity Residential by 482.3% during the second quarter. Principal Financial Group Inc. now owns 7,153,749 shares of the real estate investment trust’s stock valued at $496,040,000 after acquiring an additional 5,925,177 shares in the last quarter. National Bank of Canada FI grew its position in Equity Residential by 679.0% during the second quarter. National Bank of Canada FI now owns 594,774 shares of the real estate investment trust’s stock valued at $40,528,000 after buying an additional 518,424 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Equity Residential by 39.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,676,445 shares of the real estate investment trust’s stock valued at $116,245,000 after buying an additional 475,124 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Equity Residential by 77.5% during the 1st quarter. Sei Investments Co. now owns 1,061,862 shares of the real estate investment trust’s stock worth $67,014,000 after acquiring an additional 463,664 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Equity Residential by 793.8% during the 1st quarter. SG Americas Securities LLC now owns 444,791 shares of the real estate investment trust’s stock valued at $28,071,000 after acquiring an additional 395,029 shares during the period. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

Equity Residential is committed to creating communities where people thrive. The Company, a member of the S&P 500, is focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters. Equity Residential owns or has investments in 305 properties consisting of 80,683 apartment units, with an established presence in Boston, New York, Washington, DC, Seattle, San Francisco and Southern California, and an expanding presence in Denver, Atlanta, Dallas/Ft.